TD Cowen Issues Positive Forecast for Texas Roadhouse (NASDAQ:TXRH) Stock Price

Texas Roadhouse (NASDAQ:TXRH) had its price target upped by TD Cowen from $195.00 to $213.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company raised their target price on Texas Roadhouse from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Stephens upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and set a $205.00 price target on the stock in a research note on Thursday, October 15th. Weiss Ratings raised shares of Texas Roadhouse from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, September 9th. Benchmark raised shares of Texas Roadhouse from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Finally, Morgan Stanley raised their price objective on shares of Texas Roadhouse from $212.00 to $221.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.04.

Texas Roadhouse Trading Down 4.1%

Shares of TXRH traded down $7.91 during midday trading on Friday, hitting $183.88. 1,867,609 shares of the stock were exchanged, compared to its average volume of 1,353,685. Texas Roadhouse has a 52-week low of $153.82 and a 52-week high of $216.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The stock has a fifty day simple moving average of $172.73 and a 200 day simple moving average of $179.06. The firm has a market cap of $12.07 billion, a P/E ratio of 28.91, a P/E/G ratio of 2.03 and a beta of 0.81.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, November 5th. The restaurant operator reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.10). The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. Texas Roadhouse’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, research analysts anticipate that Texas Roadhouse will post 6.48 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.75 per share. The ex-dividend date is Tuesday, December 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.6%. Texas Roadhouse’s dividend payout ratio (DPR) is 48.00%.

Insider Activity

In other news, Director Hugh Carroll sold 650 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $203.99, for a total value of $132,593.50. Following the transaction, the director owned 2,883 shares of the company’s stock, valued at approximately $588,103.17. The trade was a 18.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory Moore sold 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total transaction of $624,960.00. Following the transaction, the director directly owned 26,900 shares of the company’s stock, valued at $5,603,808. This represents a 10.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 19,970 shares of company stock valued at $4,061,808. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Lido Advisors LLC lifted its position in shares of Texas Roadhouse by 0.8% during the 3rd quarter. Lido Advisors LLC now owns 7,528 shares of the restaurant operator’s stock valued at $1,177,000 after acquiring an additional 59 shares during the period. Signaturefd LLC raised its holdings in Texas Roadhouse by 3.3% during the third quarter. Signaturefd LLC now owns 1,905 shares of the restaurant operator’s stock worth $298,000 after purchasing an additional 61 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Texas Roadhouse by 2.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,387 shares of the restaurant operator’s stock worth $374,000 after purchasing an additional 61 shares during the last quarter. Glenmede Trust Co. NA boosted its position in Texas Roadhouse by 3.9% during the first quarter. Glenmede Trust Co. NA now owns 1,815 shares of the restaurant operator’s stock worth $300,000 after purchasing an additional 68 shares in the last quarter. Finally, Summitry LLC boosted its position in Texas Roadhouse by 1.9% during the first quarter. Summitry LLC now owns 4,140 shares of the restaurant operator’s stock worth $684,000 after purchasing an additional 76 shares in the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Texas Roadhouse

Here are the key news stories impacting Texas Roadhouse this week:

• Positive Sentiment: Same-store sales increased 4.3% and revenue rose 9.5% year over year to $1.57 billion, showing continued growth. The company also declared a quarterly dividend of $0.75 per share. Third-quarter results and dividend announcement
• Neutral Sentiment: Analyst views were mixed: Bank of America and TD Cowen raised their targets, while Wells Fargo, RBC, Morgan Stanley, and BMO lowered theirs. Several firms nevertheless maintained positive ratings, and Citigroup raised its target while keeping a neutral rating. Morgan Stanley rating and target update
• Negative Sentiment: Adjusted earnings were $1.36 per share, below analysts’ roughly $1.46–$1.49 estimates, while revenue of $1.57 billion also narrowly missed expectations. Reports pointed to softer traffic, tempering the otherwise solid year-over-year sales growth. Q3 earnings and revenue miss

Texas Roadhouse Company Profile

Texas Roadhouse, Inc (NASDAQ: TXRH) operates full-service casual dining restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants serve made-from-scratch meals centered on hand-cut steaks, ribs, chicken, seafood, burgers and other American-style dishes, along with freshly baked rolls and a selection of beverages.

Founded in 1993, Texas Roadhouse began with its first restaurant in Clarksville, Indiana. The company’s restaurant network includes company-owned and franchised locations across the United States, as well as international locations.